This week Jay-Z and Kanye West unveiled their long-awaited collaboration, Watch the Throne. The album’s timing and title couldn’t have been more appropriate—the Empire State of Mind rapper is hip-hop’s top earner with $37 million in the past 12 months, claiming his fourth Cash Kings crown in five years; his partner-in-rhyme ranked third.

Fueled by the tail end of his Blueprint 3 Tour and a vast portfolio of business interests, Jay-Z barely edged second-ranked Diddy—who raked in $35 million, roughly half of that total coming from a lucrative partnership with Diageo’s Ciroc vodka—but handily topped West, who earned $16 million. The duo is steaming ahead with plans for co-headlining tour starting this fall.

“Jay-Z and Kanye are hip-hop ambassadors,” says Steve Stoute, chief of branding firm Translation and author of The Tanning of America. “They bring the art form around the world, and they’ve taken production and everything to the next level. Now they’ve got a chance to grow with their global audience.”